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Sale of Swiss Company GS Swiss PCB
October 11, 2021 | exceet Group AG,Estimated reading time: 1 minute
exceet Group AG, a company of the exceet Group, signed a contract with a fund advised by AFINUM Management AG to sell its portfolio company GS Swiss PCB AG. The manufacturer of highly miniaturized printed circuit boards for the medical technology and aerospace sectors is based in the Swiss Canton of Schwyz. The completion of the transaction is not subject to any conditions and is expected to occur until 31 December 2021. The agreed purchase price amounts to approx. CHF 105 million and will increase exceet Group’s net cash position (available cashless interest-bearing liabilities) after transaction costs to about EUR 110 million after completion of the transaction.
Based on the IFRS accounting standard, GS Swiss PCB AG generated revenues of EUR 36 million and an operating profit (EBITDA)1) of EUR 9.5 million in the financial year 2021.
Without GS Swiss PCB AG, exceet Secure Solutions GmbH (whose sale has been completed at the end of April 2021) and Lucom GmbH Elektrokomponenten und Systeme (whose sale is currently being prepared and together with the entities already sold the "Discontinued Companies"), exceet Group does not hold any operating companies. It has already reported the Discontinued Companies accordingly as "Discontinued Operations" in the half year financial statements as of 30 June 2021.
By taking this step, exceet continues to focus consequently on optimizing the value of its activities.
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